Funds Managed by Libra Advisors, LLC Acquire Units of Lysander Minerals
Corporation for Investment Purposes

TORONTO, Oct. 8 /CNW/ - Libra Advisors, LLC ("Libra") announced today that Libra Fund, L.P. and Libra Offshore Master Fund, L.P. (the "Funds") acquired 9,523,000 Units of Lysander Minerals Corporation ("Lysander") at a price of $0.21 per unit. Each unit is comprised of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share in the capital of Lysander at a price of $0.30 until October 7, 2011.

As a result of the acquisition, the Funds now hold 9,523,000 common shares representing approximately 7.6% of the total outstanding common shares of Lysander, and 9,523,000 warrants of Lysander that, if exercised, would result in the Funds' holding approximately 14.0% of the total outstanding common shares of Lysander.

The Funds acquired the common shares and warrants for investment purposes and may, from time to time, acquire additional securities of Lysander or dispose of such securities as they may deem appropriate.

Libra is the investment advisor to Libra Fund, L.P. and Libra Offshore Master Fund, L.P. with principal offices at 909 Third Avenue, 29th Floor, New York, NY 10022.

For further information: Mr. Ranjan Tandon, Managing Member, at [phone]